Re: My USDA guaranteed thread
03-26-2012 12:21 PM
Hi all! I was initially pre-approved FHA back in November, but will be reapplying USDA in July or August...wanted to ask, is "earnest money" on a zero down program like USDA the standard $500 under 50K or $1000 over 50K? Thanks!
I am not aware of any requirement that USDA requires as to how much you have to put down as earnest money, but in my situation, my realtor told me seller was requesting $500 earnest money and a preapproval letter. My purchase price is $168K.